Earnings Releases·Oct 29, 2026, 4:02 PM ET

MVB Financial Corp. — Third Quarter 2026 Earnings Summary

Net income dropped to $0.4 million ($0.03 EPS) from $12.3 million ($0.95 EPS) in the prior quarter and $17.1 million ($1.36 EPS) in the prior year quarter, driven by a $9.9 million provision for credit losses and a $10.0 million nonrecurring gain in the prior quarter.
Core net interest margin expanded 15 basis points to 4.02%, while total loan balances grew 1.8% to $2.52 billion for the sixth consecutive quarter; however, total deposits declined 0.8% to $3.09 billion, raising the loan-to-deposit ratio to 81.6%.
Credit quality faced headwinds with nonperforming loans rising to $46.8 million (1.9% of loans) and net charge-offs increasing to $2.5 million, attributed primarily to a specific acquisition-and-development land loan.
Fintech payments deposits surged 28.1% quarter-over-quarter to $766.0 million, and the company onboarded four new fintech partners, bringing the year-to-date total to nine, though payment card income fell 12.8% due to seasonality.
Management provided no specific numerical forward guidance but expressed confidence in the strengthened credit risk profile, noting a 45% decline in criticized loans since early 2025 and a doubled allowance for credit losses.